WILAND SERVICES ANNOUNCES RESULTS
WILAND SERVICES ANNOUNCES RESULTS BOULDER, Colo., April 10 /PRNewswire/ -- Wiland Services Inc.
(NASDAQ: WSVS), announced today its results for the first quarter ended March 31, 1992.
Operating revenues were $9,745,000 -- a 32 percent increase over revenues of $7,355,000 for the like period in 1991. The company recorded net income for the period of $329,000 or 9 cents per share, up from net income of $32,000 or 1 cent per share for the first quarter of 1991. Both the operating revenue and net income figures were first quarter records. Phillip A. Wiland, president and chief executive officer stated that, "We are extremely pleased with our first quarter results, which reflect the ongoing strength of our Direct Marketing Services division and continued progress in our Consumer Products division." Wiland Services provides services to direct marketers and sells consumer products through its mail order division. The company's Direct Marketing Services division markets database management, list enhancement, marketing research, list fulfillment, computer printing, information services and mailing lists which assist direct marketers with the planning and implementation of their marketing programs. The company's Consumer Products division sells a diverse line of merchandise directly to individual consumers under the trade name Colorful Images. In addition, the company also markets its own mailing lists. Headquartered in Boulder, the company has production facilities in Boulder and Fredericksburg, Va. and sells its products and services nationwide. WILAND SERVICES INC. Three Months Ended March 31, 1992 1991 Sales of services $4,767,006 $4,111,310 Sales of products 4,977,900 3,243,497 Total operating revenues 9,744,906 7,354,807 Income from operations 552,346 119,968 Other deductions, net (37,006) (65,760) Income before income taxes 515,340 54,208 Provision for income taxes 186,000 22,000 Net income $329,340 $32,208 Net income per common share $0.09 $0.01 -0- 4/10/92 /CONTACT: Mike Wolfe of Wiland Services, 303-530-0606/ (WSVS) CO: Wiland Services Inc. ST: Colorado IN: CPR SU: ERN
MC -- DV003 -- 7084 04/10/92 09:15 EDT
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|Date:||Apr 10, 1992|
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